SMM analysis projects iron ore prices to trend strong in September as steel mills complete maintenance and ramp up hot metal production, lifting ore demand. Rising coke prices are expected to add further cost support. Demand recovery is anticipated with the peak season, though overall upside may be capped by still-weak end-market conditions.
DCE iron ore futures closed higher with spot prices edging up across mainstream grades. Blast furnace operating rates dipped slightly week-on-week and daily hot metal output declined, but bottoming-out signals and improved market expectations lent support. Traders maintained steady shipments while steel mills held back on procurement, leaving spot trading sluggish.
Asia
In Asia, grey cast iron markets showed mixed price trends during the second quarter of 2026. Indian foundries faced higher pig iron, scrap, coke, freight and resin costs, which reduced casting margins and encouraged producers to revise offers upward. Demand from automotive components, pumps, machinery and infrastructure remained supportive, strengthening the ability of Indian foundries to pass through part of the cost increase. China faced less upward pressure as domestic pig iron availability remained comparatively comfortable and weaker industrial activity reduced buyer urgency. Chinese crude steel production declined 2.7% year on year in May, indicating softer ferrous demand and limiting stronger increases in foundry input costs.
Europe
In the European markets, the grey cast iron price trend witnessed a fluctuating trend during the second quarter. Energy-intensive melting operations faced high electricity and fuel expenses, while freight and imported raw-material costs added to replacement values. Demand from machinery, automotive components and general engineering remained subdued, restricting producers' ability to fully transfer higher manufacturing costs. Construction and industrial equipment demand also remained cautious, leading foundries to maintain disciplined production schedules rather than build inventories. These conditions kept the market supported primarily by costs rather than strong demand growth.
North America
Market conditions for grey cast iron in North America were stable to moderately strong, owing to an improvement in ferrous output that benefited foundry activity and restrained any further gain on account of better material availability. There was a demand coming from the automotive industry, infrastructure, heavy machinery and industrial castings. The rise in steel imports and irregular shipments from mills contributed to an improvement in ferrous availability and restrained restocking activity among users.
Analyst Insight
According to Procurement Resource, grey cast iron markets are expected to remain firm but balanced, with raw-material and energy costs providing support while uneven manufacturing demand and adequate ferrous availability limit stronger gains.
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Asia
Grey Cast Iron prices in Asia remained largely stable with a slight downward tendency during Q1’26. In China, weak steel demand and continued accumulation of port inventories limited aggressive procurement activity. Feedstock costs were marginally higher quarter-on-quarter by around 1.59%, but stable pig iron production and cautious steel mill operations prevented stronger upward price movement in Grey Cast Iron. However, by the last month of the quarter, the Middle East conflict also disrupted shipping through the Strait of Hormuz, affecting Chinese steel export routes and reducing export efficiency. Elevated freight costs and logistical delays increased transaction costs, while buyers adopted conservative purchasing strategies amid uncertain export demand.
Europe
In the European region, Grey Cast Iron prices followed a stable-to-soft trend due to moderate demand and raw material import dependency. Higher freight costs, shipping uncertainty, and elevated energy expenses pressured production economics. However, sufficient global supply and comfortable inventories prevented any major shortage. Demand from construction and manufacturing remained moderate, keeping prices range bound.
North America
In Q1’26, Grey Cast Iron prices remained balanced as stable steel production supported demand from industrial and automotive sectors in the North American markets. Higher freight and shipping disruptions raised delivered raw material costs, but increased shipments from Australia and Brazil ensured adequate supply. Controlled steel mill output and steady demand from machinery, transportation, and infrastructure kept the market stable.
Grey cast iron is an allow of iron and carbon with graphite flakes. The alloy has many striking features such as thermal conductivity, vibration damping, etc. This makes it a suitable choice in the manufacturing of engine blocks, pipes, and machinery parts. Its unique structure grants corrosion resistance and wear properties. However, its lower tensile strength and impact resistance, compared to steel, make it suitable for applications where these qualities are less critical.
Automotive industry, Wind turbine components, Machine Tool Structures, Hydraulics and pneumatics
TATA Steel, S.A.I.L, Doston Iron Castings, Ashland Foundry and Machine Works, Dandong Foundry, Willman Industries
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The cast iron and pig iron scraps in cupola furnace are melted in the initial step of this process. The liquid mixture is then put into molds made of dry sand. The castings are then retrieved, cleaned, and finished for upcoming commercial uses after the molds have had time to cool.
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